SouthernEra Resources Limited
- New Kimberlite Pipe Discovered on Lac De Gras Block, Canada
- Drilling Update, Back Lake Project, NWT, Canada
- Yamba Lake Project, NWT, Canada
TORONTO, March 4 /CNW/ -
New Kimberlite Pipe Discovered on Lac De Gras Block, NWT, Canada
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Chris Jennings, President is pleased to report that SouthernEra Resources
Limited (SUF-TSE) has been informed by partner Kennecott Canada Exploration
that a new kimberlite pipe, EG-05, has been discovered in shallow water about
75m from the south shore of Lac de Gras, in Canada's Northwest Territories.
This block is owned by Kennecott (60%) and SouthernEra (40%) and is
contiguous with and to the south of the Ekati Diamond Mine property. Two
shallow drill holes have been drilled to-date. Both holes were abandoned in
kimberlite due to caving. The kimberlite consists of volcaniclastic material.
(This is the same kimberlite host rock as occurs in the known economic pipes
on the Diavik and Ekati properties.) The economic potential of this pipe will
only become known following receipt of results from core samples which have
been sent to Kennecott's Thunder Bay laboratory for microdiamond and heavy
mineral chemical analysis. This work will be completed as soon as possible
with heavy mineral chemistry available within two weeks. Kennecott is
continuing with late winter exploration on all properties jointly held with
SouthernEra in the Lac De Gras area.
Drilling Update, Back Lake Project, NWT. (SUF 70%)
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The sonic drilling program on the Back Lake project, Northwest
Territories commenced on 24th February.
The focus of the program is to locate the primary kimberlite sources of:
1. The extensive kimberlite float material that occurs within
the shoreline area of Munn Lake, and
2. The two kimberlitic heavy mineral indicator trains that have
been traced to the shoreline of Margaret Lake.
To-date, a total of 32 till samples have been recovered from the bottom
of Munn Lake utilizing the sonic drill. Processing of till samples for the
recovery of kimberlitic heavy mineral indicators and kimberlite float
fragments is being completed daily at the Munn Lake camp site.
Early results include the positive recovery of kimberlitic heavy mineral
indicators with kimberlite fragments noted in two samples. The sonic drill is
continuing to trace the kimberlite float material and kimberlite indicators
from the shoreline, in an up-ice direction until an up-ice cut off to the
kimberlite indicators are defined. This will narrow down and define the
primary kimberlite area.
Yamba Lake Project, NWT. (SUF 51%)
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The 1999 diamond exploration program commenced on February 16th, with an
8000 line-kilometer high resolution airborne geophysical survey at a 100 meter
line spacing over the entire property. All geophysical data is being processed
on a daily basis at the Yamba Lake camp, to permit immediate target follow-up.
Ground geophysics will commence mid-March on selected airborne
geophysical targets indicative of kimberlite pipe intrusions, followed by
diamond drill testing.
In addition, the Ptarmigan and the T-10 kimberlite pipes will be tested
this spring for their diamond content.
%SEDAR: 00004535E
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For further information: please contact: Christopher M.H. Jennings,
President, A. Lee Barker, Senior Vice President, Frank van de Water, Vice
President, Finance, Kim Freeman, Vice President, Operations, Nicholas Sayce,
Investor Relations, Phone: (416) 359-9282, Fax: (416) 359-9141, e-mail:
inbox@southernera.com, southernera.com
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